Vizsla Silver Corp. [TSXV-VZLA, NYSE-VZLA; FSE-0G3] released results from five new drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The reported drilling, designed to infill near-surface indicated mineral resources, continues to confirm high-grade continuity throughout Copala and reveals how rich the mineralizing hydrothermal system involved in initial vein formation was.
Highlights: CS-24-356 returned 8,817 g/t silver equivalent (AgEq) over 4.20 metres true width (mTW) (1,694 g/t silver and 103.20 g/t gold), including 55,769 g/t AgEq over 0.64 mTW (9,920 g/t silver and 663.00 g/t gold).
CS-24-362 returned 1,103 g/t AgEq over 10.50 mTW (804 g/t silver and 5.27 g/t gold), including 4,881 g/t AgEq over 1.47 mTW (3,437 g/t silver and 24.87 g/t gold) and 1,379 g/t AgEq over 0.91 metres TW (1,145 g/t silver and 4.78 g/t gold).
“Today’s results represent some of the highest-grade gold intercepts drilled to date at the Panuco project,” commented Michael Konnert, president and CEO. “Our ongoing infill program, targeting the near-surface ultrahigh-grade zone at Copala continues to deliver exceptional silver and gold grades over very broad widths. In addition to confirmation of continuity, hole CS-24-356 also expanded high-grade mineralization closer to surface. Moving forward we will continue our conversion drilling at Copala as we derisk the project ahead of the maiden PEA, slated for early Q3 2024.”
The precious metals dominant Copala structure, located in the western portion of the Panuco district, is situated approximately 800 metres east of the Napoleon vein. Copala currently hosts indicated resources of 83.3 Moz AgEq at 573 g/t AgEq and inferred resources of 48.3 Moz AgEq at 476 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick.
Interpretations by Vizsla geologists indicate Copala has an average dip of approximately 46 degrees to the east (approximately 35 degrees in its northern sector and steepening to approximately 65degree in the southern sector).
Exploration and resource drilling at Copala has traced mineralization along approximately 1,770 metres of strike length and approximately 400 metres down dip. The infill holes reported here are part of a continuing approximately 10,000-metre program (approximately 35 holes), planned to convert near surface indicated mineral resources in the central portion of main Copala into the measured resource category.
The five infill holes reported were drilled at approximately 25-metre centres from pre-existing holes and continue to successfully confirm grade continuity. Furthermore, some of the remarkable silver and gold grades drilled at Copala reveal how rich the hydrothermal system involved in the process of vein formation was. This supports Vizsla’s continuing exploration strategy, which has been tailored to locate additional Copala-like structures. Vizsla plans to complete its continuing approximately 10,000-metre infill program by mid to late July. Based on the results received, Vizsla Silver is analyzing additional drilling metres to continue upgrading and expanding mineral resources in high priority areas at Copala.
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 17,856.5-hectare, past-producing district benefits from over 86 km of total vein extent, 35 km of underground mines, roads, power and permits.
The district contains intermediate to low-sulphidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara formation.
On Jan. 8, 2024, the company announced an updated mineral resource estimate for Panuco which includes an estimated in situ indicated mineral resource of 155.8 Moz AgEq and an in situ inferred resource of 169.6 Moz AgEq.
Vizsla Silver is focused on advancing its flagship Panuco silver-gold project and has completed over 368,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted 30,000-plus metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high-priority targets across the district.
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